2 min listen
1164: Marketbuzz Podcast with Sudarshan Kumar: Sensex and Nifty 50, likely to open with a positive bias amid mixed global market cues
FromMarketBuzz
1164: Marketbuzz Podcast with Sudarshan Kumar: Sensex and Nifty 50, likely to open with a positive bias amid mixed global market cues
FromMarketBuzz
ratings:
Length:
2 minutes
Released:
Dec 29, 2023
Format:
Podcast episode
Description
As the year end is nearing, global market signals appear mixed for the final trading session. U.S. indices witnessed a flat close following a range-bound session, offering a neutral perspective.
However, positive indicators emanate from the crude market, with both Brent and WTI experiencing a 3% overnight dip due to a further easing of tensions in the Red Sea.
In the Indian markets, it was yet another day of record-breaking performances, with Sensex, Nifty 50, and Nifty Bank achieving fresh intraday highs. Notably, Nifty breached the 21,800 mark for the first time, underscoring the bullish sentiment.
While Sensex approaches the 23,000 milestone, midcaps exhibit a relatively subdued performance, contributing to a market breadth slightly favoring declines with an advance-decline ratio of 3 to 4.
Institutional activities reflect continued confidence, with Foreign Investors (FIs) displaying a buying spree despite elevated levels. Yesterday, FIs made purchases amounting to INR 4359 crore, while Domestic Investors (DIs) reported sales of only INR 137 crore. Today's pre-market data for Nifty indicates a modest gain, poised to mark yet another record high.
Investors are advised to keep a close eye on auto companies, anticipating reactions ahead of their monthly sales figures. Additionally, oil marketing companies are in focus, driven by two key factors – the recent decline in crude prices and speculations surrounding potential price cuts.
However, positive indicators emanate from the crude market, with both Brent and WTI experiencing a 3% overnight dip due to a further easing of tensions in the Red Sea.
In the Indian markets, it was yet another day of record-breaking performances, with Sensex, Nifty 50, and Nifty Bank achieving fresh intraday highs. Notably, Nifty breached the 21,800 mark for the first time, underscoring the bullish sentiment.
While Sensex approaches the 23,000 milestone, midcaps exhibit a relatively subdued performance, contributing to a market breadth slightly favoring declines with an advance-decline ratio of 3 to 4.
Institutional activities reflect continued confidence, with Foreign Investors (FIs) displaying a buying spree despite elevated levels. Yesterday, FIs made purchases amounting to INR 4359 crore, while Domestic Investors (DIs) reported sales of only INR 137 crore. Today's pre-market data for Nifty indicates a modest gain, poised to mark yet another record high.
Investors are advised to keep a close eye on auto companies, anticipating reactions ahead of their monthly sales figures. Additionally, oil marketing companies are in focus, driven by two key factors – the recent decline in crude prices and speculations surrounding potential price cuts.
Released:
Dec 29, 2023
Format:
Podcast episode
Titles in the series (100)
753: MarketBuzz Podcast With Sonia Shenoy: Sensex, Nifty likely to open higher; Britannia, Aurobindo Pharma in focus by MarketBuzz